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  1. Hiromi BIGHOUSE 0314

    Unhappy What do you mean " issue a credit" in a contract or an agreement?

    Now I am translating an English distribution agreement into Japanese, and I have a question.
    In the article of quality of product, the phrase " issue a credit" is often used.
    For example, ,,
    A has the right to issue a credit to the end user for a possible defective product, giving the end user the benefit of the doubt. As per A request, B will issue a credit fot the so-called defective product within 30 days. A will send all credited products to B.

    I tried to look over some dictionaries, but I didn't get an exact answer.

    I hope you can help me.

    • Join Date: Oct 2006
    • Posts: 19,434

    Re: What do you mean " issue a credit" in a contract or an agreement?

    One person credits the value of the defective item to the other person's debit account, so subtracting that monetary amount from the total due.

    So if you are a trader who has bought a batch of cellphones and five are defective, the supplier will total the amount you were due to pay for those phones and subtract it from the total bill. But rather than exchange actual money, it is done as a subtraction [a credit] on the account.

  2. Ouisch's Avatar
    • Member Info
      • Native Language:
      • English
      • Home Country:
      • United States
      • Current Location:
      • United States

    • Join Date: Mar 2006
    • Posts: 4,142

    Re: What do you mean " issue a credit" in a contract or an agreement?

    In the scenario you described, if a customer receives a product that is defective, then the supplier will issue a credit for the cost of that product. As a rule, the credit amount will be for the full cost of the product. That means that the customer will not have to pay for the product; the credit issued by the supplier negates the invoice received by the customer. Usually the customer will first have to return the defective product to the supplier.

    Here is a simplified example:
    Customer receives Widget, and Widget is defective.
    Customer contacts Supplier, stating that Widget is broken.
    Supplier tells Customer "Send us the broken Widget, and we will issue you a credit."
    Customer ships the Widget back to Supplier, along with a copy of the original invoice.
    Supplier sends Customer a credit memo, which indicates that Customer is no longer required to pay the original invoice. Any monies owed have been zeroed out.

    (Hope this helps!)

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